Brokerages expect that Western Digital Corporation (NASDAQ:WDC) will report $3.77 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Western Digital’s earnings. The lowest EPS estimate is $3.62 and the highest is $3.89. Western Digital reported earnings per share of $2.30 in the same quarter last year, which would suggest a positive year-over-year growth rate of 63.9%. The firm is expected to announce its next earnings report after the market closes on Thursday, January 25th.

On average, analysts expect that Western Digital will report full-year earnings of $13.38 per share for the current fiscal year, with EPS estimates ranging from $12.95 to $13.68. For the next year, analysts forecast that the firm will report earnings of $11.99 per share, with EPS estimates ranging from $10.22 to $13.11. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Western Digital.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.55. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. Western Digital’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS.

Several analysts recently issued reports on the stock. BidaskClub lowered shares of Western Digital from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Royal Bank of Canada restated a “buy” rating on shares of Western Digital in a report on Friday, December 22nd. Robert W. Baird downgraded Western Digital from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $120.00 to $93.00 in a research report on Monday, October 2nd. Barclays reaffirmed a “buy” rating and issued a $131.00 target price on shares of Western Digital in a research report on Tuesday, October 3rd. Finally, UBS Group reaffirmed an “add” rating on shares of Western Digital in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $112.10.

In related news, CFO Mark P. Long sold 4,467 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $88.13, for a total transaction of $393,676.71. Following the completion of the sale, the chief financial officer now owns 88,384 shares in the company, valued at $7,789,281.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael D. Cordano sold 1,401 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total value of $119,085.00. Following the sale, the insider now owns 70,560 shares of the company’s stock, valued at approximately $5,997,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,039 shares of company stock valued at $1,400,999. Corporate insiders own 0.31% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Western Digital in the second quarter valued at approximately $135,000. Sun Life Financial INC lifted its stake in Western Digital by 16,215.4% in the second quarter. Sun Life Financial INC now owns 2,121 shares of the data storage provider’s stock valued at $188,000 after buying an additional 2,108 shares during the last quarter. Adviser Investments LLC purchased a new stake in Western Digital in the third quarter valued at approximately $204,000. Rational Advisors LLC purchased a new stake in Western Digital in the third quarter valued at approximately $207,000. Finally, Krilogy Financial LLC lifted its stake in Western Digital by 45.0% in the second quarter. Krilogy Financial LLC now owns 2,465 shares of the data storage provider’s stock valued at $218,000 after buying an additional 765 shares during the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.

Shares of Western Digital (NASDAQ WDC) traded up $1.55 on Wednesday, reaching $85.43. 2,173,233 shares of the company traded hands, compared to its average volume of 4,106,170. The stock has a market cap of $25,130.00, a price-to-earnings ratio of 17.84, a P/E/G ratio of 0.27 and a beta of 1.12. Western Digital has a 12-month low of $70.73 and a 12-month high of $95.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.13 and a current ratio of 2.64.

Western Digital declared that its Board of Directors has approved a share buyback program on Thursday, November 9th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the data storage provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, December 28th. Western Digital’s dividend payout ratio is presently 41.75%.

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About Western Digital

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

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